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Transatlantic Slave Trade

Decent Essays

There has always been a great debate on why the British Parliament chose to abolish the slave trade, after all, this was the richest part of Britain's trade in the 18th century. Most importantly, Britain benefited immensely from the Transatlantic Slave Trade as it was extensive and flooded into the country bringing wealth which established newly funded industries. However, there were multiple humanitarian and economic factors that were responsible for the abolition of the transatlantic slave trade and the effect it had on the economic and political stability of Britain and West Africa in the nineteenth century. By the 18th century, the abolitionist movement and the anti-slavery sentiment among the British population rose significantly, with …show more content…

The financial benefits now included cost production from the acquisition of slaves and the potential gain of transporting the slaves. This ultimately lead to a complete push to end the transatlantic slave trade through the integration of Africa into the world market and the complete rebuilding of the labor force . Additionally, Britain turned to adopting the views and impressions of Scottish philosopher Adam Smith, who argued heavily against racism for pure economic reasons. He diligently explains in the Wealth of Nations that the problem with slavery was slave labor, believing these degrading peasants essentially constituted unproductive labor. Smith argued that free labor would not only allow slaves to apply their own initiative but would essentially improve the market, there would be reduced prices while product quality remained high. However, slavery would hinder this from happening, causing an insufficient market, and leaving slave holders to purchase slaves yearly at extremely high rates. Ultimately, Britain adopted his views because slavery was proven to be less profitable in the long run than wage labor and they realized that they needed cheap labor. It became quite simple for Britain that he abolition of the slave trade would lead to greater profits …show more content…

Although this may have been considered a minor or infinitesimal role, it was the humanitarian goals that inspired the anti-slavery sentiment among the British population. Which eventually influenced Britain capitalist to think clearly about the economic factors that made it possible to abolish transatlantic

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